Our performance reflects our potential — uniCredit CEO
Savings and Loans Company, uniCredit Ghana has posted a profit before tax of GH¢9.46 million in 2015 compared to GH¢4.26 million in the previous year.
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The company’s total asset base also grew by 61.24 per cent in 2015 from GH¢203.6 million in 2014 to GH¢328.4 million in 2015. Customer deposits also increased by 49.58 per cent.
Commenting on the performance, Chief Executive Officer of uniCredit, Mr Samuel Sakyi-Hyde said uniCredit had reaffirmed the strength of its business model and has delivered a good performance despite the dwindling economic fortunes.
“We delivered a strong financial performance consistent with our performance over the years in spite of intense competition and a tough operating environment.”, said Mr. Sakyi-Hyde.“This is evidenced by a profit before tax of GH¢9.46 million compared to GH¢4.26 million in the previous year. Most of our business lines recorded growth, which is reflective of our deliberate efforts to create sustainable value and a focused implementation of our business strategy,” he said.
He said on the back of gains from its expanded branch network from twelve (12) to eighteen (18) and deliberate deposit mobilization efforts during the period, the company was able to “maintain a continuous focus on enhancing the quality of relationship management, credit monitoring and recoveries to effectively manage the quality of our loan book. This notwithstanding, specific and challenging advances were adequately provided for and recovery measures put in place.”
He said uniCredit’s current strategy for 2016, was to leverage on its strong capital position to sustain planned future development of the business.
“In line with this, uniCredit has successfully launched its electronic banking suite which features proprietary and GhIPSS-enabled ATM transactions throughout the country. Additional branch expansion will also take place throughout the year as part of plans to give customers and the general public easier access to uniCredit’s products and service,” he added.
Currently ranked among the top 100 blue chip companies of the Ghana Club 100, uniCredit remains an SME-focused financial institution with a proven record in nurturing and developing businesses within this sector through loans and advances, quality investments and tailor-made advisory services.
